Creator Dogecoin says that Crypto is an assault

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Photo: Dan Kitwood (Getty Images) – For the first time in two years Jackson Palmer went to Twitter to remind us that the rich are ruining all – even cryptocurrency.

Dogecoin Jackson Palmer, co-creator of social media, isn’t very popular. Following a nuclear shift on his You Tube channel and the private turn on his Twitter account in the middle of 2019, the sound engineer hadn’t gained any insight into the platforms at all. This blackout came to an end today, when Palmer resurfaced on Twitter briefly, remembering that it was always scam in cryptocurrency.

“From years of study, I believe that cryptocurrency is a hyper-capitalist hyper-legal technology built primarily to increase the wealth of its advocates by combining tax avoidance, decreased regulatory supervision and artificially forced scarcity,” he tweeted on Wednesday afternoon.

Palmer also went on to say that while the largest fans of Crypto often point to it as an equal alternative to Big Banks due to the decentralized nature of the currency, the reality is that both share the same issue: the rich. As he rightly points out, “a powerful cartel of rich figures” controls the bulk of the crypto community, turning decentralized money into a system that largely benefits top-down individuals such as the centralized system crypto claim to substitute.

Generally speaking, Cryptocurrencies had a hell of a year. Bitcoin, the best known of the bunch, saw its price peak in mid-April at more than 63,000 dollars before crashing to mid-30,000 dollars a month later. Dogecoin, meantime, has jumped from about $0.06 per dogecoin to over $0.68 per coin, and then sunk to somewhere in the middle like this, to “the moon,” as it says. The value of crypto was, of course, debatable throughout.

The complete thread of Palmer is worth reading, even if you disagree with his remarks — and that will be a lot. One of the numerous terrifying features of the crypto-community Palmer stresses is that the ire of everyday investors afraid to lose everything is “inclusive of the most modest critique of crypto-currency.” Just something worth remembering, when those figures inevitably tweet bad faith, which tells Palmer that he’s just jealous when he’s lucky.